Moody's Analytics is the deserved winner of economic scenario generator (ESG) software of the year. InsuranceERM's judging panel was particularly impressed by the product's wide range of features and described it as a "a comprehensive tool".

Moody's Analytics said the past year has seen further development of its ESG solutions and this impressed the judges.

For example, the vendor explains its Climate Pathway Scenario Service is built on its scenario generation software. The service is helping power insurers' asset and liability projections and support their efforts to respond to climate scenario analysis requirements in the Orsa and TCFD reporting.

Over the last 12 months, Moody's Analytics has also launched its Risk Integrated Credit Scenarios that provides integrated modelling of market and credit risk in a multi-asset class framework.

The provider says improvements have also been made to the Cloud Burst Service that enables users to run the Scenario Generator on Moody's Analytics hosted cloud environment. This service provides access to thousands of computing cores on demand to allow the parallelisation of computations and reduce runtimes from hours or days to minutes.

InsuranceERM's judges praised various aspects of Moody's Analytics ESG software. They noted the software gets strong feedback from clients, and said the "software reflects clients' evolving requirements in a number of areas".

Speaking to InsuranceERM, a spokesperson for Moody's Analytics says the continued impact of Covid-19 means business interruption and supply chain risks will stay top of mind for insurers in 2022.

The provider adds that insurers are grappling with the challenges of integrating climate change and environmental, social and governance risk across key business risk functions.

The spokesperson says: "Financial stability risks, driven by growing inflationary pressures in many major economies, is also likely to be an area of focus for 2022, [and] especially increasing stock market volatility."